Gold Prices Soar Above $4,600 Amid US Fiscal Concerns

Gold prices have climbed above $4,600 per ounce as investors become increasingly concerned about the US fiscal outlook. The surge in gold is driven by rising investment demand and worries over government borrowing, currency debasement, and a weaker dollar.

Despite a brief dip in bond yields, gold's strength reflects concerns about the Treasury's plan to expand long-term debt buybacks. Demand from ETFs and central banks remains robust, supporting the rally.

However, persistent inflation and potential Federal Reserve rate hikes pose risks to further gains, with markets closely watching upcoming Fed signals for direction.